424.360 Invitation to bid on municipal bonds.
127 words·~1 min read·
/ky/chapter-424/424-360A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Except in the case of:
(a)Bonds issued for the purpose of facilitating the construction, renovation, or
purchase of new or existing housing as provided by KRS 58.125; or
(b)Bonds issued and sold pursuant to any section of the Constitution or the
Kentucky Revised Statutes providing for the sale of bonds at a private,
negotiated sale;
no sale of general obligation bonds or revenue bonds of any governmental unit,
political subdivision, or agency thereof shall be made until advertisements for bids
are publicized.
(2)Advertisements for bids may be publicized by:
(a)Newspaper publication in the area constituted by the political subdivision or
governmental unit and published to afford statewide notice; or
(b)Posting a notice of sale to a nationally recognized electronic bidding system.